Citibank Says It's 'Flummoxed' By Ratings Collapse In Cable TV

Citibank entertainment media analyst Jason B. Bazinet and his team wrote in a note to investors today that they are baffled by the audience ratings decline they're seeing in cable TV.

Citi downgraded CBS, Disney, Discovery, News Corp and Scripps from "Buy" to "Neutral" in the note after concluding that the ratings falloff was accompanied by a similar decline in the growth of ad dollars being spent on cable.